SPX Daily
SPX Weekly
The SPX has triggered SHORT on the Daily chart. It's still about 40 SPX points away from triggering SHORT on the Weekly. In order for the Daily Short signal to be confirmed, SPX must close today below 1045.
Needless to say, all of the intraday models are currently SHORT.
A
SPX Weekly
The SPX has triggered SHORT on the Daily chart. It's still about 40 SPX points away from triggering SHORT on the Weekly. In order for the Daily Short signal to be confirmed, SPX must close today below 1045.
Needless to say, all of the intraday models are currently SHORT.
A
10 comments:
You might get lucky. I wouldnt bet the bank on it though. :)
Please forgive me if this is a stupid question. (I'm still learning).
Although I'm sure SPX is most representative of market as a whole, how important is it for all major sectors to be in agreement before you initiate a short position?
Dow, MID, and SMALL CAP seem to be showing similar weakness.
However, according to my crude version of your fantastic ATR indicator, I've yet to get sell on the Qs, even though one of my favorite companies (RIMM) tanked today.
Canadian Guy
Oh Canada,
There is nothing wrong with using a weight-of-the-evidence concept, if everything has triggered except that one pesky index you want to trade, it's OK to preempt it as long as it doesn't become a habit.
Are we witnessing another Obamacare/plunge protection?
-Mike
This market has a bad habit of looking weak and then a final rally just enough to get all the shorts to cover and then will come the plunge down. Bad habits are tough to quit. Be careful traders. GS wants you out of this market before they take it down. They most definately will turn the Bull algo on one more time.
LONG LONG LONG we are in the midst of the biggest bull market of all time.
The S&P closed below 1045.
Sell Rosh Hashannah, Buy Yom Kippur
Pretty accurate indicator historically. Yom Kippur starts Sunday night.
Actually, I read somewhere that the Yom/Rom trade reversed after the Yom Kippur War. Sell on Yom was the conclusion. I haven't checked the stats but you might want to check and update that rule of thumb if the article was correct.
Peace
Smiddy
...well, this looks like a good place foe me to post my own 'kooky' indicators..... full moon and new moon 'reversals'.
Look at any chart and you'll see 90 % of all bottoms and tops occurred on or near,new moons and full moons. the last new moon was sept 17 area...meaning:anticipate a reversal. before that,the sept 2 area - full moon,and reversal;august 17- new moon,august 3
- full moon, july 5 area -full moon, june 3 - full moon, march 3 full moon.
I think it deserves watching.
Next full moon october 1 area.(oct 3)
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